Aquascutum for sale?

Aquascutums owners are understood to be investigating a possible sale, according to reports from the weekend press.

The Sunday Times reported that the British luxury brand has attracted the interest of Hong Kong-based YGM trading, which owns rights to the Aquascutum brand in Asia, as well as the Asian arm of the Carlyle Group private equity firm.

Jaeger owner and British Fashion Council Chairman Harold Tillman and former Jaeger and Aquascutum Chief Executive Belinda Earl purchased Aquascutum from its Japanese owners in 2009. Earl exited the label recently due to poor health and was replaced by Carolyn Springett, previously the brand director.

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Tillman anticipated running a combined group with more than £300m in turnover. The most recent report filed at Companies House reflected a loss of about £10m on sales of £28m for the year to February 2010.

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